On December 19, 2024, the Department of the Treasury published a report on the Uses, Opportunities, and Risks of Artificial Intelligence in Financial Services Sector.
The SEC adopted amendments to the Fund Names Rule in September 2023. The compliance dates for the Amendments are currently December 11, 2025 for larger entities and June 11, 2026 for smaller entities.
On December 17, 2024, the Commodity Futures Trading Commission approved a final rule amending CFTC Regulation 1.25, which provides for the safeguarding and investment of customer funds by futures commission merchants and derivatives clearing organizations.
The Office of Information and Regulatory Affairs recently released its Fall 2024 Unified Agenda of Regulatory and Deregulatory Actions, which includes updated Agency Rule Lists from the Department of Labor and the Treasury Department and Internal Revenue Service—including projected...
The IRS and Treasury Department released Announcement 2025-02, relating to the applicability date of future final regulations relating to required minimum distributions.
On December 4, 2024, the US Government Accountability Office (GAO) released a report entitled "401(k) Plans: Industry Data Show Low Participant Use of Crypto Assets Although DOL's Data Limitations Persist".
The Internal Revenue Service recently issued Notice 2024-82 containing the 2024 Required Amendments List (RA List) for certain individually designed retirement plans.
The Missouri Secretary of State has proposed an amendment applicable to investment advisers and investment adviser representatives which would deem effecting any transaction with an investment objective not authorized by a client to be a fraudulent act in Missouri.
On December 12, 2024, the Chinese authorities released a notice to expand and enhance China's voluntary private pension scheme. From December 15, 2024, the private pension scheme will be implemented nationwide along with enhancements, such as expanding the scope of eligible products...
The Securities and Exchange Commission issued orders instituting proceedings to determine whether to approve or disapprove proposed rule changes by the New York Stock Exchange and Cboe BZX Exchange, Inc. that would exempt listed closed-end funds from holding an annual meeting.
On September 18, 2024, the SEC, in a unanimous vote, adopted amendments to Regulation NMS that would impact the minimum quoted price increments for NMS securities, the access fee caps that registered securities exchanges could charge, and odd lot transparency.
On December 12, 2024, the Securities and Exchange Commission (SEC) issued an order granting a partial stay to Rules 610 and 612 of the recently adopted Regulation NMS amendments.
On November 29, 2024, Australia enacted legislation to require large multinational enterprises to publicly report selected tax items on a country-by-country basis for specified jurisdictions and either CBC or an aggregated basis for the rest of the world.
On 29 November, the International Organization of Securities Commissions published a final report on the evolution of exchange operation, governance, and business models.
The United States Court of Appeals for the Fifth Circuit vacated the order of the Securities and Exchange Commission approving Nasdaq's Board Diversity Proposal
The Corporate Transparency Act, enacted in 2021 and effective January 1, 2024, requires certain entities to file reports with the Financial Crimes Enforcement Network identifying their beneficial owners, among other information. FinCEN adopted a rule in September 2022 to implement...
The Commodity Futures Trading Commission's Divisions of Clearing and Risk, Data, Market Oversight and Market Participants issued a staff advisory on the use of artificial intelligence (AI) in CFTC-regulated markets by registered entities and registrants.
The Missouri Secretary of State filed a proposed amendment and a proposed rule identifying practices in the brokerage industry and investment adviser industry that are generally associated with acts that deceive and defraud.
The Attorneys General of eleven States, led by Texas, filed suit against three asset managers in the U.S. District Court for the Eastern District of Texas, alleging that the asset managers' "acquisition and use of shareholdings in … domestic coal producers" violated antitrust laws.
On November 6, 2024, the Competent Authorities of the United States and Norway entered into an agreement confirming that Article 20 of the US-Norway tax treaty is not applicable to US regulated investment companies.
On 25 November 2024, the Securities and Futures Commission (SFC) issued a circular to provide guidance to asset managers regarding due diligence on ESG ratings and data providers, following the recent publication of the Hong Kong voluntary code of conduct for ESG ratings and data...
Last week, ICI sent a letter (linked below) to SEC Chair Gensler, requesting that the SEC (i) suspend the compliance dates for certain recent regulatory actions, (ii) halt work on not-yet-finalized rulemaking, and (iii) extend soon-to-expire relief that would have a significant impact...
